Nifty metal was the top gainer, up over 2 per cent, followed by Nifty public sector bank index, up over 1 per cent.

MARKET WRAP: Sensex ends 353 pts higher; metals shine, pharma stocks slip

<div>
	Indices held gains on Wednesday, supported by broad-based buying across all major sectors,&nbsp;to end the day in the green. Positive sentiment was bolstered at D-street as US president Donald Trump&#39;s decision to delay imposition of additional tariff on Chinese imports doused trade-war concerns. Further, benign inflation back home, opened room for more rate cuts by the Reserve Bank of India (RBI).</div>
<br />
<div>
	The benchmark S&P BSE Sensex settled at 37,311 levels, up 353 points or 0.96 per cent, lifted by Reliance Industries, Infosys, ICICI Bank, and HDFC. Vedanta, Tata Steel, YES Bank, and Tech Mahindra were the top gainers at the 30-share index, while Sun Pharmaceuticals, ONGC, Tata Motors, and Asian Paints ended the day as top laggards. The broader Nifty50, too, added 104 points, or 0.95 per cent, to close the day above the psychological mark of 11,000 at 11,029.</div>
<br />
<div>
	Sectorally, all the sectors, barring pharmaceuticals, ended the day with gains. Nifty pharma index shed 4 per cent in the intra-day trade to hit a 5-year low on BSE. The index ended 1.4 per cent lower. <a href="https://orgbs.business-standard.com/article/markets/nifty-pharma-index-hits-5-year-low-glenmark-at-7-year-low-post-q1-results-119081400514_1.html" target="_blank"><strong>READ MORE</strong></a></div>
<br />
<div>
	On the contrary, Nifty metal was the top gainer, up over 2 per cent, followed by Nifty public sector bank index, up 1.5 per cent.</div>
<br />
<div>
	In the broader market, S&P BSE mid-cap settled at&nbsp;13,477 level, up 114 points or 0.85 per cent. The S&P BSE small-cap, on the other hand, closed at&nbsp;12,570 levels, up 51 points or 0.41 per cent.</div>
<br />
<div>
	<strong>GLOBAL CUES</strong></div>
<br />
<div>
	European stocks fell on Wednesday as Germany&rsquo;s economy went into reverse, reviving fears of global recession and tempering a rally for equities after Washington delayed tariffs on some Chinese imports. The Euro STOXX 600 fell 0.4 per cent. Markets in London .FTSE, Frankfurt .GDAXI and Paris FCHI lost from 0.2 per cent to 0.6 per cent. Wall Street futures gauges were also lower.</div>
<br />
<div>
	Equity investors on Wall Street and Asia had cheered earlier when US President Donald Trump pushed back a Sept. 1 deadline for new tariffs on remaining Chinese imports.</div>
<br />
<div>
	The S&P 500 .SPX, which had fallen 1 per cent on Monday, rose 1.5 per cent overnight, sending Asian stocks outside Japan up 0.6 per cent. Benchmarks in Shanghai, Hong Kong and Tokyo all mirrored the surge in US stocks.</div>

Business Standard

MARKET WRAP: Sensex ends 353 pts higher; metals shine, pharma stocks slip | News on Markets - Business Standard

https://bsmedia.business-standard.com/_media/bs/img/live-blog/full/15657549122284.png

https://bsmedia.business-standard.com/_media/bs/img/live-blog/full/15657548586276.png

https://bsmedia.business-standard.com/_media/bs/img/live-blog/full/15657548125959.png

https://bsmedia.business-standard.com/_media/bs/img/live-blog/full/15657547663211.png

https://bsmedia.business-standard.com/_media/bs/img/live-blog/full/15657547215868.png

https://bsmedia.business-standard.com/_media/bs/img/live-blog/full/15657546325449.png

https://bsmedia.business-standard.com/_media/bs/img/live-blog/full/15657545704698.png

Sectoral trends at NSE during Opening trade

https://bsmedia.business-standard.com/_media/bs/img/live-blog/full/15657544996876.png

Top gainers and losers on S&P BSE Sensex during Opening trade

https://bsmedia.business-standard.com/_media/bs/img/live-blog/full/1565754466524.png

https://bsmedia.business-standard.com/_media/bs/img/live-blog/full/15657544350333.png

https://bsmedia.business-standard.com/_media/bs/img/live-blog/full/15657543955693.png

Top gainers and losers on S&P BSE Sensex during Pre-open

https://bsmedia.business-standard.com/_media/bs/img/live-blog/full/15657536520261.png

https://bsmedia.business-standard.com/_media/bs/img/live-blog/full/15657536065536.png

https://bsmedia.business-standard.com/_media/bs/img/live-blog/full/1565753572344.png

It will take 1-2 years to come out of economic slowdown: Bimal Jalan

<div>
	In the third part of the series, in which top economists and thinkers offer their views on reviving the economy, the former RBI governor says global slowdown won&rsquo;t be a hindrance in achieving 7.5-8% growth</div>
<div>
	&nbsp;</div>
<div>
	I think this economic slowdown is cyclical and not structural. The reason why I am saying this is that all factors of production such as investments, savings, land, technology are in our favour. So, it is cyclical in that sense.</div>
<div>
	&nbsp;</div>
<div>
	The slowdown is in some sectors, primarily in manufacturing, and not across the board. There is no slowdown in services. <a href="https://www.business-standard.com/article/economy-policy/it-will-take-1-2-years-to-come-out-of-economic-slowdown-bimal-jalan-119081301630_1.html?1565752969" target="_blank"><strong>READ MORE</strong></a><br />
	<div style="float: left; max-width: 600px;">
		<img align="" alt="" class="imgCont" height="464" src="https://bsmedia.business-standard.com/_media/bs/img/article/2019-01/10/full/1547137354-2555.jpg" style="border: 1px solid #DDD; margin-right: 10px; padding: 1px; float: left; z-index: 0; width:100%" title="" width="620" /></div>
	<br />
	&nbsp;</div>
<br />

MARKET WRAP: Sensex ends 353 pts higher; metals shine, pharma stocks slip

Nifty metal was the top gainer, up over 2 per cent, followed by Nifty public sector bank index, up over 1 per cent.

Grasim Industries trades over 1% higher

ONGC trades flat with negative bias

Future Retail trades flat

Manappuram Finance gains over 3%

Emami trades flat with positive bias

Dr Reddy Labs slips 7%

HDFC Life Insurance tanks over 7%